After just over six months in existence, Orbit Homes is already marking itself out as a key developer in both the RSL and commercial sectors, born out by the £14 million of Kickstart 2 funding recently awarded to us by the HCA – meaning we can build just under 300 homes.
We received the funding on five key developments, the largest being Great Blakenham in Suffolk, with funding provided for 81 new affordable homes and a loan towards developing 40 market sale homes, totalling £5.5 million.
The Great Blakenham scheme is one of two which incorporate loans for market sale homes. These market sale homes are a key new revenue stream for Orbit Homes, which will result in any surpluses from sales being ploughed back into the charitable side of the business to provide more affordable housing. The other scheme to receive a loan is Norse Road in Bedford, which received grant funding for 48 new affordable homes and a loan towards constructing 40 market sale homes, totalling £4.2 million.
Our other three schemes to receive funding were Ore Valley in Hastings with £1.9 million to build 39 affordable homes, Crowhurst Lane in Sevenoaks with £1.6 million to build 29 affordable homes and Albany Drive in Canterbury, which will receive £850,000 to build 16 affordable homes.
I’m so pleased to have received this amount of funding from the HCA. It’s a great show of confidence in us and what we are trying to achieve – to provide affordable, high quality homes across all tenures.
We have a strong development team who deserve recognition for helping us gain this funding, and for continuing to make us a developer of choice for those we work with.
